Source : PTI | India’s crude oil purchases from Russia dropped over 15 per cent in April after the country’s buyer shut the refinery for routine maintenance, European think tank Centre for Research on Energy and Clean Air (CREA) said in a report.

India imported €4.5 billion worth of crude oil (raw material for making fuels like petrol and diesel) from Russia in April, down from €5.3 billion worth of imports in the preceding month. Continue reading “India’s Russian oil imports drop in April on Nayara refinery shutdown”

BERLIN, (Reuters) – Volkswagen’s U.S. brand Scout was designed from the start to pursue a ​potential stock market listing or to ‌allow strategic investors to take a stake, its CEO Scott Keogh told daily Handelsblatt, as it ​explores new funding options.

• Scout was ​deliberately set up as a stand-alone entity, ⁠Keogh said. Outside capital was “an option ​that is on the table”, Keogh said in ​the interview with the German business newspaper

• Keogh pointed to U.S. investment funds focused on what he ​called the country’s “industrial renaissance”, without naming ​specific investors Continue reading “Market listing an option for VW’s US Scout brand, CEO tells paper”

(Reuters) – Countries in the European Economic Area and Switzerland have committed almost 200 billion euros ($235 billion) ​to their electric vehicle (EV) ecosystem, research group New Automotive said on ‌Tuesday.

The investments underline the scale of the region’s push to cut its reliance on China, which the International Energy Agency said earlier this year made more than 80% of all batteries ​produced in 2025, including those used outside EVs. Continue reading “Europe’s EV investments near 200 billion euros, New Automotive data shows”

Source : PTI | Shares of electric vehicle companies ended higher on Monday, with Ather Energy climbing 6 per cent, after Prime Minister Narendra Modi called for judicious consumption of fuel and increased use of EVs to conserve foreign exchange amid the crisis in West Asia.

Ather Energy shares jumped 6.02 per cent, JBM Auto surged 4.75 per cent, Ola Electric Mobility edged higher by 2.47 per cent and Olectra Greentech went up by 2.16 per cent on the BSE. Continue reading “Ather Energy jumps 6%, EV stocks rise after Narendra Modi calls for higher electric vehicle adoption”

Source : PTI | Prime Minister called on Indians to meet the challenge of disruptions to fuel and other supplies caused by the West Asian conflict by adopting austerity measures similar to the ones taken during the Covid pandemic as the country copes with a surge in its import bill.

He underscored the need for a reduction in petrol and diesel consumption through a greater reliance on public transport and working from home during a speech in Hyderabad on Sunday. Continue reading “Need of hour is to use petro products with restraint: PM Modi”

Source : PTI | Union Minister for Road, Transport and Highways Nitin Gadkari on Monday inaugurated Multi-Lane Free Flow (MLFF) barrier-less tolling system at the Mundka-Bakkarwala Toll Plaza on Urban Extension Road-II (UER-II).

The Mundka-Bakkarwala Toll Plaza in Delhi is the second Multi-Lane Free Flow (MLFF) barrier-less tolling system in India after Choryasi Toll Plaza on the Surat-Bharuch section of NH-48 in Gujarat inaugurated on May 1.

Continue reading “Nitin Gadkari inaugurates second barrier less Mundka-Bakkarwala toll plaza on UER-II”

(Reuters) – Boeing said on Friday it was continuing to ​investigate a workplace accident that ‌led to the death of an employee last month, after ​a union called for ​full accountability over the incident.

Daniel Lussier, ⁠a 53-year-old aircraft mechanic ​at Boeing and member of ​the International Association of Machinists and Aerospace Workers (IAM), died in April following ​an accident at the ​Wichita plant. Continue reading “Boeing probing worker death as union calls for accountability”

Summary

• Middle East impact driven by higher costs, lower volumes
• Quarterly operating profit drops nearly 50%
• Full-year outlook misses analyst expectations

TOKYO, (Reuters) – Japan’s Toyota expects the effects of the Iran war ​to cost it about $4.3 billion this financial year, in one of the most significant warnings yet ‌by a global company on the wider impact of the conflict.

The world’s largest automaker reported an almost 50% drop in quarterly earnings on Friday and said full-year profit is expected to fall by a fifth in the year just started, as rising costs from the war outweigh ​surging demand for hybrid vehicles. Continue reading “Toyota expects $4.3 billion hit from effects of Iran war”

Summary

• U.S. hybrid sales up 37% since Iran conflict
• EV sales lag in U.S. despite high gas prices, unlike strong gains in Europe
• Pickup-truck sales remain strong as discounts attract buyers despite fuel costs

(Reuters) – Many American car buyers are gravitating to hybrid vehicles to offset the recent surge in gas prices from the Iran war, ​according to fresh industry sales data and dealers.

U.S. hybrid sales rose 37% in the two months since the Middle East conflict began ‌at the end of February, according to data from research firm Motor Intelligence. That outpaced the sales growth of the overall car market, which was up 15% in that period. Continue reading “US hybrid-car sales soar, along with gas prices”

Summary

• China April car sales -21.6% y/y; exports +80.2% y/y
• Automakers shifting toward premium models
• Entry-level segment a drag on sales

BEIJING, (Reuters) – China’s domestic car sales fell for a seventh straight month in April amid intense ​competition in the world’s biggest auto market but exports stayed strong as automakers increasingly ‌targeted overseas markets.

Sales at home dropped 21.6% from a year earlier to 1.4 million vehicles last month, data from the China Passenger Car Association (CPCA) said on Monday. Continue reading “China’s domestic car demand stays weak but exports strengthen”

Summary

• Industry groups, lawmakers worry that Trump will welcome Chinese auto investments in U.S.
• Democrats, Republicans back legislation to codify data ban on Chinese vehicles
• Chinese EV makers gain market share in Europe, Mexico with low prices as U.S. prices climb

WASHINGTON, (Reuters) – As President Donald Trump prepares to meet with Chinese President Xi Jinping this week, the U.S. auto industry and lawmakers on both sides of the aisle are hammering him with ​a simple message: Please don’t offer China any access to the U.S. car market.

Trump in January told the Detroit Economic Club that it would be “great” if Chinese automakers wanted to build ‌plants in the U.S. and employ Americans, adding: “I love that. Let China come in, let Japan come in.” Continue reading “US industry, lawmakers plead with Trump: Don’t open door to Chinese cars at Xi summit”

Source : PTI | The government on Thursday said 101 auctioned mineral blocks have come into operation since the introduction of the auction regime in 2015.

The achievement underscores the transformative impact of reforms undertaken by the mines ministry in close coordination with state governments, contributing towards the vision of self-reliant India, the mines ministry said in a statement.

Continue reading “Govt says 101 mineral blocks started operations since auction regime began in 2015”

Source : PTI | Hotayi Electronics, Malaysia’s leading electronics manufacturing services company, will invest ₹700 crore at Sanand in Ahmedabad, with Deputy Chief Minister Harsh Sanghavi handing over offer-cum-allotment letter to the firm on Thursday.

The investment will further strengthen Gujarat’s semiconductor and electronics manufacturing ecosystem, the state government said in a statement. Continue reading “Hotayi Electronics to invest ₹700 cr to boost semiconductor, manufacturing ecosystem in Gujarat”

(Reuters) – Mercedes-Benz is recalling 144,049 ​vehicles in the U.S. ‌over instrument panel display issues, the U.S. National ​Highway Traffic Safety ​Administration said on Friday.

The ⁠recall includes certain ​2024-2026 AMG GT, C-Class, ​E-Class, SL, CLE, and GLC vehicles. Continue reading “Mercedes-Benz to recall about 144,000 US vehicles over display issues, NHTSA says”

Summary

• Tie-up expands from sales to manufacturing in Europe
• Plan targets EV output, filling underused capacity
• Zaragoza plant to build Leapmotor B10, new Opel SUV
• Partners consider transferring Madrid plant ownership to JV

MILAN, (Reuters) – Stellantis and China’s Leapmotor plan to start joint car production in Europe, with two models ‌to be built in Spain, deepening their tie-up beyond distribution into manufacturing, the Franco-Italian automaker said on Friday.

The move comes ahead of Stellantis’ new business plan on May 21, as CEO Antonio Filosa seeks to regain market share in North America and Europe ​and turn around operations. Continue reading “Stellantis, Leapmotor deepen ties with joint EV production in Europe”

LONDON, (Reuters) – Rio Tinto is evaluating the economic potential of McEwen Copper’s giant Los Azules project in Argentina as the mining group considers ​increasing its 17.2% stake in the development, two industry sources said.

Los Azules ‌is among the world’s 10 largest undeveloped copper projects and the move highlights Rio Tinto’s push for large-scale copper assets as miners scramble to meet surging demand from data centres and the global clean ​energy transition. Continue reading “Exclusive: Rio Tinto considers raising stake in Argentina’s Los Azules copper project, sources say”

(Reuters) – Porsche AG said on ​Friday that it planned to ‌cut more than 500 jobs as it discontinues three subsidiaries ​to focus on core ​business.

The company the units Cellforce Group ⁠GmbH, Porsche eBike Performance ​GmbH and Cetitec GmbH would ​be discontinued. Continue reading “Porsche AG to cut over 500 jobs as it sharpens focus on core business”

BUENOS AIRES, (Reuters) – Mercedes-Benz Trucks ‌and Buses Argentina on Friday inaugurated a $110 million industrial truck plant in Zárate, a municipality ​in Buenos Aires province.

The factory can ​produce up to 10,000 units per ⁠year and will produce the Atego and ​Accelo trucks, as well as the OH ​and OF bus chassis, company executives said at a press conference. Continue reading “Mercedes-Benz Trucks and Buses Argentina inaugurates $110 million plant”

Summary

• U.S. hybrid sales up 37% since Iran conflict
• EV sales lag in U.S. despite high gas prices, unlike strong gains in Europe
• Pickup-truck sales remain strong as discounts attract buyers despite fuel costs

(Reuters) – Many American car buyers are gravitating to hybrid vehicles to offset the recent surge in gas prices from the Iran war, ​according to fresh industry sales data and dealers.

U.S. hybrid sales rose 37% in the two months since the Middle East conflict began ‌at the end of February, according to data from research firm Motor Intelligence. That outpaced the sales growth of the overall car market, which was up 15% in that period. Continue reading “US hybrid-car sales soar, along with gas prices”

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BERLIN, (Reuters) – German sports car maker Porsche is cutting ​the number of executive board members ‌to seven from eight as part of a strategic realignment of the company under new ​CEO Michael Leiters, it said on ​Thursday.

Under the restructuring, the research and development ⁠division will incorporate Car IT from ​July 1. Sajjad Khan, who oversaw software ​and infotainment as the board member for Car IT, will no longer serve on the board ​and will not be replaced, Porsche ​said. Continue reading “Porsche axes board position as part of restructuring”

WASHINGTON, (Reuters) – The National Highway Traffic Safety Administration said on Thursday the ​2026 Tesla Model Y is the first vehicle model to ‌pass the agency’s new advanced driver-assistance system tests.

The tests have recently been added to the agency’s New Car Assessment Program. The models that passed are Model ​Y vehicles manufactured on or after November 12, 2025. The ​tests cover pedestrian automatic emergency braking, lane keeping assistance, blind ⁠spot warning and blind spot intervention. Continue reading “Tesla Model Y is first vehicle to pass new US driver-assistance system tests”

Summary

• Q1 rides misses estimates due to winter storms in the U.S. Northeast
• Lyft expands internationally via acquisitions, including Gett UK and FreeNow
• Partnerships drove 27% of North American rides, a record high

(Reuters) – Lyft forecast ‌second-quarter gross bookings and adjusted core profit above Wall Street estimates on Thursday, even as first-quarter ride volumes fell short of expectations due to severe winter storms in the United States.

Shares of the San Francisco-based company fell ​about 3% in after-hours trading. The stock has lost about 27% of its ​value this year. Continue reading “Lyft forecasts strong bookings, winter storms hit first-quarter ride volumes”

WASHINGTON, (Reuters) – Major auto trade groups on Thursday urged the Trump administration to extend a free trade deal ​with Mexico and Canada, saying it was crucial for U.S. vehicle production as ‌North America faces competition from Asia and Europe.

The seven groups representing automakers, car dealers, and parts manufacturers, said in a letter to U.S. Trade Representative Jamieson Greer first reported by Reuters that extending the U.S.-Mexico-Canada Agreement “will ​help ensure that the United States remains a globally competitive production base at a ​time of rapid technological change and intensifying international competition.” Continue reading “Auto groups urge Trump to extend trade deal with Mexico, Canada”

Summary

• CEO says Polestar accelerating cost-cutting, efficiency measures
• Polestar secures new funding

(Reuters) – Sweden’s Polestar reported a bigger first-quarter loss on Thursday, ​as pricing pressure and U.S. tariffs offset stronger sales volumes.

Shares of ‌the company fell 4.3% in premarket trading. Continue reading “EV maker Polestar’s quarterly loss widens as tariffs, pricing pressure weigh on margins”

Summary

• Tesla’s China-made EV sales rose 36% in April year-on-year
• Sixth straight monthly gain signals rebound after tough 2025
• FSD approval delays, Chinese rival launches may ​limit recovery momentum

BEIJING,(Reuters) – Tesla China-made EV sales jumped 36% on the year in April, a sixth month of gains, as the U.S. automaker fights to ​hold ground against a wave of cheaper Chinese rivals.

Deliveries of ​Model 3 and Model Y vehicles built at Tesla’s Shanghai ⁠plant, including those exported to Europe and other markets, totaled 79,478 units, ​data from China Passenger Car Association showed on Thursday. Continue reading “Tesla’s China-made EV sales jump 36% in April, extending rebound”

Summary

• First-quarter sales of new-energy heavy trucks up 45% from last year
• Diesel prices rise 27% since war began, expected to further boost sales
• Lifetime costs of EV trucks half those of equivalent diesel units

BEIJING, (Reuters) – The jump in diesel prices triggered by the Iran war is expected to accelerate ​electrification of China’s heavy truck fleet this year, analysts and automakers say, and speed a decline in fuel demand in the world’s largest ‌oil importer.

Electric heavy truck sales grew over the last two years from a niche market to nearly a third of new heavy truck purchases in 2025 thanks to government subsidies, cheap refuelling and expanding charging infrastructure. Last year’s growth was particularly weighted in the fourth quarter because buyers also thought the trade-in subsidy programme would be ending soon. Continue reading “Iran war to accelerate China’s shift to electric trucks from diesel”

• REPORTED Q4 FY26 REVENUE OF Rs. 12,797 CRORE
• AND PROFIT AFTER TAX (PAT) OF Rs. 1,401 CRORE
• DECLARES FINAL DIVIDEND OF RS. 75 PER SHARE

Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters, today announced its financial results with highest Revenue and PAT, for the fourth quarter (January – March 2026) and the fiscal year 2026 (April 2025 – March 2026). Continue reading “Hero MotoCorp reports record high revenue and profit after tax in its 25th consecutive year of industry leadership”

(Reuters) – Tesla is recalling 218,868 vehicles ​in the U.S. due to ‌delayed rearview camera images that could increase the risk of ​a crash, the National ​Highway Traffic Safety Administration (NHTSA) said on ⁠Wednesday.

The regulator said the ​rearview camera display in affected ​vehicles may be delayed when the car is put into reverse, reducing ​driver visibility. Continue reading “Tesla to recall nearly 219,000 US vehicles on rearview image issue”

(Reuters) – General Motors ​is recalling ‌40,440 vehicles ​in ​the U.S. due ⁠to ​the presence ​of sediments in the ​brake ​fluid, increasing the ‌risk ⁠of crash, the ​U.S. ​National ⁠Highway Traffic ​Safety ​Administration ⁠said on Thursday. Continue reading “General Motors to recall over 40,400 U.S. vehicles over brake fluid issues”

(Reuters) – The online process to reclaim U.S. tariff payments deemed illegal by the Supreme Court is running “smoother” than anticipated, a ​U.S. customs expert at freight forwarder Kuehne und ‌Nagel.

Companies had expressed concerns about the durability of the system, which was launched last month after the U.S.’ top court shot down ​broad tariffs imposed by the Trump administration last ​year. The ruling has enabled importers to seek ⁠up to $166 billion in rebates. Continue reading “US tariff refund process running ‘smoother’ than expected, Switzerland’s K+N says”

(Reuters) – Chinese automaker Geely has purchased part of a Ford factory in Spain and plans to build ​one of its models there, Spanish trade publication ‌La Tribuna de Automocion reported, citing unnamed sector sources.

Geely, China’s second-largest automaker after BYD, is in the midst of wider ​negotiations first reported by Reuters in February for shared ​vehicle technologies. Continue reading “Chinese carmaker Geely buys Ford assembly facilities in Spain, local media reports”

Summary

• Chinese automakers designing more cars for overseas markets
• Exports vital amid weak domestic sales and industry overcapacity
• Smaller cars, such as hatchbacks, in development for Europe

BEIJING, (Reuters) – China’s carmakers are hunting for their own “Yaris moment” – the kind of locally tailored breakthrough that helped Toyota conquer Europe – as they race to turn booming exports into lasting overseas growth.

After early attempts that largely involved exporting China-designed cars with minor tweaks, automakers are now ​re-engineering vehicles from the ground up for foreign buyers, driven as much by fierce margin pressure at home as by opportunity abroad. Continue reading “China’s carmakers chase ‘Yaris moment’ to ignite overseas growth”

Summary

• DoorDash expands in grocery, retail, and international markets, boosting order value
• Shares of the company rose 13% in extended trading
• Co beats Q1 gross transaction value and core profit ​expectations

(Reuters) – DoorDash on Wednesday forecast ‌second-quarter marketplace gross order value above analysts’ estimates, helped by resilient demand for delivery services and the company’s expansion in grocery, retail and international markets, sending its shares up about 13%.

The company ​also beat estimates for quarterly adjusted profit and marketplace GOV, a measure ​of the total dollar value of orders placed on its platform. Continue reading “DoorDash forecasts quarterly order value above estimates on resilient delivery demand”

Summary

• BMW keeps full-year guidance despite tariff and China headwinds
• Shares up nearly 5% on stronger-than-expected core auto margin
• CEO Zipse plays down Trump’s latest 25% tariff threat

BERLIN, (Reuters) – BMW maintained ​its 2026 financial guidance on Wednesday, shrugging off a tariff-hike threat by U.S. President Donald Trump ‌as a bargaining chip, as first-quarter earnings beat expectations despite falling 25%.

U.S. auto tariffs are already weighing heavily on BMW’s margins at their current rate while fierce competition in China has put the German premium carmaker under pressure in its largest single market. Continue reading “BMW keeps 2026 guidance, shrugs off tariff threat as profit beats expectations”

MILAN, (Reuters) – Pirelli will start producing Cyber Tyres in the United States, it said on Wednesday, after Italy curbed the influence of the premium tyre ​maker’s Chinese investor Sinochem in a bid to help its expansion ‌across the Atlantic.

Italy’s government last month ended a governance dispute over Sinochem’s stake in Pirelli through its use of “golden powers” for companies deemed to be of national strategic interest. Continue reading “Pirelli to make Cyber Tyres in US after Italy curbs China influence”

Summary

• North American arm’s profit margin drops to 5.4% from ​14.4%
• Full-year guidance confirmed
• Flags first-quarter tariff impact of at least 100 million ‌euros
• Order momentum suggests US market recovery

(Reuters) – Daimler Truck’s first‑quarter operating profit more than halved owing to historically weak demand and import tariffs in a North American market where volumes ​fell to a 16-year low, the company said on Wednesday.

Adjusted operating ​profit fell to 498 million euros ($584 million) from 1.08 billion euros ⁠a year earlier, reflecting a sharp slowdown in North America, the group’s largest ​and most profitable market. Continue reading “Daimler Truck’s profit halves on US tariffs, weak North American demand”

Summary

• Delivery, freight outperform; ride-hailing revenue misses
• Q1 revenue hit by winter storms, Iran war, higher fuel costs
• Uber targets robotaxi trips in 15 cities by end of 2026

(Reuters) – Uber Technologies forecast second-quarter bookings above Wall Street estimates on Wednesday on strong ‌demand for ride-hailing and delivery services, even though the Middle East conflict weighed on its growth.

Shares of the San Francisco-based company rose about 7%. Continue reading “Uber forecasts strong second-quarter bookings despite Middle East woes”

Summary

• Negotiations to continue on May 19
• EU Parliament, governments seek deal under looming US tariffs
• Lawmaker-demanded safeguards complicate swift approval
• Member states push fast implementation to avert tariff escalation

BRUSSELS, (Reuters) – European lawmakers and governments are making good progress in ‌negotiations to finalise a deal scrapping duties on U.S. imports but “there is still some way to go”, the European Parliament’s chief negotiator Bernd Lange said on Thursday.

The lawmakers and governments were aiming to finalise a deal under renewed pressure from U.S. President Donald Trump, with divisions over safeguards an overhang on the chances of a ​swift agreement. Continue reading “EU negotiator says ‘still some way to go’ on US trade deal under threat of higher auto tariffs”